Trade war: China will not help US with currency devaluation to reduce deficit
Beijing will not help Washington turn around its trade deficit by agreeing to measures aimed at devaluing the US dollar, according to China’s top envoy to the United States.
Japan, France, West Germany and Britain agreed to the accord in September 1985 and jointly intervened in foreign exchange markets to depreciate the US dollar against the yen as well as the Deutschmark, in an attempt to lower the dollar and make US exports more competitive.
https://www.scmp.com/news/china/dipl...luation-reduce